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Tuesday, April 5, 2011

NY Cocoa market close review for today, April 5, 2011

* Key May cocoa futures closed down $45 at $2,975 a tonne.

* Market weak in heavy volume but May contract stayed above the April 1 session low at $2,925, showing technical support - traders.

* Ivory Coast's Laurent Gbagbo has not surrendered yet but has suggested he wants to do so and has requested United Nations protection - U.N. official.

* Emerging events in war-stricken Ivory Coast pressured the market as analysts widely expect it that mean exports, which have been banned for more than two months, will once again flow in the next few weeks.

* "It certainly should liberate some cocoa (supplies), but procedure-wise it may ta